Investment Property FinTech Downpayments Raises $32.8 Million
Downpayments logo

Investment Property FinTech Downpayments Raises $32.8 Million

A FinTech that allows property investors to finance their down payments has announced a new funding round.

About the round:

This week, Florida-based startup Downpayments announced that it had raised $32.8 million via a mix of debt and equity. According to Crunchbase, the debt financing portion of the round totaled $31.8 million, while the equity seed round accounted for the other $1 million. Partners for Growth facilitated the debt financing, while Second Century Ventures (which is backed by the National Association of Realtors) participated in the equity round. With the newly raised funds, Downpayments says that it will be able to “power over $200 million in investment property transactions.”

About Downpayments:

With Downpayments, property investors can leverage equity in their current properties in order to obtain an interest-free loan for their next down payment. These loans can range from $10,000 to $200,000. Additionally, the platform utilizes open banking and AI to help buyers manage their multiple mortgages including offering actionable insights.

Currently, Downpayments is available to those buying investment properties in Florida. However, according to the company’s FAQ, they are accepting applications from buyers in other states as well as those looking to purchase property as a primary residence. They intend to expand the platform later this year to service those areas.

What they’re saying:

Speaking on the idea behind the company, Downpayments founder Godfrey Dinh (who also founded Australian startup Futurerent) said, “Access to the down payment is the biggest barrier to creating wealth through property, and peoples’ personal financial lives are inseparable from their property goals. We started Downpayments to empower investors on their journey to financial independence.”

Dinh continued, “There has been very little innovation in this area, but with an abundance of data and our proprietary technology, we’re able to help people with one of the biggest purchases of their lives. We are particularly excited to begin serving property investors in Florida, where there is a tremendous level of real estate activity that we believe could grow with easier access to capital.”

Elsewhere, Dave Garland of Second Century Ventures said of the firm’s investment, “Godfrey and his team have demonstrated a best-in-class approach to innovating for the real estate financing industry. With Downpayments, they’re tackling one of the thorniest issues surrounding real estate transactions and have found a way to turn hopeful buyers into actual buyers by unlocking easier, faster access to a down payment. We are thrilled to partner with the team as they begin to scale in Florida and throughout the U.S.”

My thoughts:

Given the current state of the housing market (or, more specifically, interest rates), the concept of Downpayments makes a lot of sense. Of course, the business model is also capital-intensive. Because of that, while the startup suggests potential geographical expansions later this year, it would seem that further investment rounds will be necessary before the company can truly grow. Perhaps this initial injection can help them prove their concept in Florida, attract further investment, and allow them to expand in the way they’re clearly hoping to.


Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

Other Articles by Kyle Burbank

Chase Marriott Bonvoy Card

Chase Updates Marriott Bonvoy Bold Co-Branded Credit Card

Chase and Marriott Bonvoy have revealed updates to one of their co-branded offerings — alongside a best-ever welcome bonus for the card. About the updated card: The no-annual-fee Marriott Bonvoy Bold credit card has received a fresh update. First, the card will gain a variety of new rewards categories. Bonvoy Bold cardholders can now earn 2x points at grocery stores, 2x on rideshare services, 2x on select food delivery, 2x...
Repair Scrabble tiles with a model home and tools

Lessons From a First-Time Home Buyer: A Warning on "Interest-Free" Home Repair Financing

The unfortunate fact about being a homeowner is that, at some point, you're going to have to pay to repair/replace some expensive items in your house. And while you should try to be as prepared for that as possible, in reality, there are times when an unexpected repair may mean needing to request financing. That way, you can pay off the purchase over time rather than shelling it all out...
"Image displaying the CNBC and Statista logos, featuring a globe highlighting financial data and statistics."

CNBC Names Top 250 FinTech Companies for 2024

The popular financial network CNBC has released its latest list highlighting the top 250 FinTech companies in the world. About the list: To compile this list, CNBC partnered with Statista. Although the companies were nominated by themselves via an application — which included sharing 2023 revenues, year-on-year sales growth rate, and total employee count — Statista conducted analysis on each and considered their key performance indicators (KPIs). Specifically, overarching KPIs...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories:, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...